Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) is pleased to report the first set of results from its re-logging program at Surebet where a gold-rich intrusive feeder dyke assayed 6.31 g/t AuEq over 14.35 meters, including 11.36 g/t AuEq over 7.85 meters at its 100% controlled Golddigger Property, Golden Triangle, British Columbia. The gold-rich dyke intersected in GD-22-64 is interpreted as one of many Reduced Intrusion Related Gold (RIRG) feeder dykes believed to be directly related to the causative intrusion responsible for the extensive high-grade gold mineralization confirmed at the Surebet Discovery. This gold-rich interval is the first of multiple drill holes containing gold visible to the naked eye over broad intervals identified in 2025. Multiple broad intervals containing abundant gold visible to the naked eye have been identified during the re-logging initiative of holes drilled between 2021 – 2024 that greatly expand the area for high-grade gold potential on the Surebet Discovery that remains wide open. Recent relogging and new sampling have confirmed gold visible to the naked eye in 7 additional previously un-assayed drill holes. This exciting development comes as the Company has started its largest drill program to date, a 40,000 meter campaign focused entirely on expanding the high-grade Surebet Discovery by testing for the Motherlode Causative Intrusive Gold Source, testing additional Eocene intrusive granitoid dykes, infill drilling with the goal of increasing pierce points density in all known stacked veins, and expanding the known mineralized veins laterally and to depth where they currently remain open.

• Drill hole GD-22-64 assayed 6.31 g/t AuEq Over 14.35 Meters Including 11.36 g/t AuEq Over 7.85 Meters from a gold-rich intrusive feeder dyke and is the first of multiple drill holes containing gold visible to the naked eye over broad intervals identified in 2025 so far. Multiple broad intervals containing abundant gold visible to the naked eye have been identified during the re-logging of holes drilled between 2021 – 2024 greatly expanding the area of confirmed mineralization for drilling on the Surebet high-grade gold discovery that remains wide open.An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/f4efa4a6-44d5-4eec-bf79-e30fc38e1061

• The gold-rich feeder dyke intersected in GD-22-64 contains multiple occurrences of gold visible to the naked eye up to 1 mm in diameter and is one of the many Reduced Intrusion Related Gold (RIRG) feeder dykes believed to be directly related to the causative intrusion (Motherlode Source) responsible for the extensive high-grade gold mineralization that remains wide open confirmed at Surebet.An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/18455cb7-d2ca-4c01-98b5-9efb94bc9a9d

• In addition to GD-22-64, multiple occurrences of gold visible to the naked eye have so far been confirmed in 7 additional holes drilled between 2021 – 2024 that were never sampled for assay and have been recently re-logged. Re-logging remains ongoing providing excellent potential for identifying additional visible gold. These holes include:
  • GD-24-280 contains 7 separate occurrences of gold visible to the naked eye spread out over 11.86 meters from 100.48 meters to 112.34 meters down hole hosted in newly identified strongly calc-silicate altered breccia that was never sampled before and remains wide open. An interval of 55.37 meters (assays pending) from 88.63 meters to 144.00 meters of this newly discovered mineralized rock type has been sampled, clearly demonstrating the additional potential for hosting significant width and grades of high-grade gold mineralization.An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/03978ee6-efac-45d1-ba2a-7254a99fe7fe
  • GD-24-277 contains 1 occurrence of gold visible to the naked eye at a depth of 116.80 meters down hole hosted in the same newly identified strongly calc-silicate altered breccia that was never sampled before and remains wide open observed in GD-24-280. An interval of 36.00 meters (assays pending) from 110.00 meters to 146.00 meters of this newly discovered mineralized rock type has been sampled, clearly demonstrating the additional potential for hosting significant width and grades of high-grade gold mineralization.An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/889bb93a-c036-4c3d-ab81-fce67027ba77
  • GD-22-102 contains 4 occurrences of gold visible to the naked eye over 9.99 meters (assays pending) from 48.72 meters to 58.71 meters down hole hosted in andesite from the Bonanza Zone that remains open, where an interval of 27.00 meters (assays pending) was sampled from 48.00 meters to 75.00 meters. The same hole also contains 1 additional occurrence of visible gold at a depth of 121.3 meters down hole hosted in andesite belonging to the Golden Gate Zone that remains open where an interval of 70 meters (assays pending) was sampled from 84.00 m to 154.00 m. The gold occurs in association with pyrrhotite and sphalerite within calc-silicate veins.An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/ca36b034-fb80-4dc7-a387-75eca0ab78e9
  • GD-24-254 contains 1 occurrence of gold visible to the naked eye at a depth of 278.90 meters down hole belonging to the Bonanza Zone that remains open, where an interval of 96.40 meters (assays pending) was sampled from 232.40 meters to 328.80 meters. The same hole also contains 1 additional occurrence of gold visible to the naked eye at a depth of 348.15 meters down hole belonging to the Golden Gate Zone that remains open, where an interval of 49.30 meters (assays pending) was sampled from 343.70 meters to 393.00 meters. The gold occurs within sheared quartz veins with pyrrhotite and sphalerite.An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/52939138-56b3-4b85-9afe-c93df03208ce
  • GD-24-267 contains 1 occurrence of gold visible to the naked eye at a depth of 62.04 meters down hole hosted in a mineralized shear in association with bismuth mineralization as well as pyrrhotite belonging to the Bonanza Zone that remains open, where an interval of 57.19 meters (assays pending) was sampled from 59.81 meters to 117.00 meters.An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/579c5f47-323d-4126-9bc2-135430bf557f
  • GD-21-09 contains 1 occurrence of gold visible to the naked eye at a depth of 137.80 meters down hole hosted in an intrusive dyke that remains open, where an interval of 12.25 meters (assays pending) was sampled from 132.75 meters to 145.00 meters. This interval looks very similar to the interval from hole GD-22-58 that assayed up to 12.03 g/t AuEq over 10 meters drilled in 2022 and re-logged in 2024. The gold occurrence is associated with bismuth mineralization in calc-silicate veinlets. This is one of the many RIRG feeder dykes believed to be directly related to the causative intrusion responsible for the extensive high-grade gold mineralization confirmed at the Surebet Discovery.An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/b1658a81-c109-4b83-b71c-da78b3906a81

    An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/044c8199-9a6a-4c9c-921c-1948e6ee5dd9

  • GD-24-244 contains 1 occurrence of gold visible to the naked eye at a depth of 109.76 meters down hole hosted in an intrusive feeder dyke that remains open, where an interval of 61.57 meters (assays pending) was sampled from 76.05 meters to 137.62 meters. The gold occurrence is associated with bismuth mineralization in calc-silicate veinlets. This is one of the many RIRG feeder dykes believed to be directly related to the causative intrusion responsible for the extensive high-grade gold mineralization confirmed at Surebet.An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/f83b462d-c79c-46f2-a5da-efea52838ba5

    An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/3f07acfc-10fb-47f2-9872-a9e9d359c26a

• Based on the discovery of the new calc-silicate altered breccia identified in drill holes GD-24-277 and GD-24-280, the relogging program was expanded from 50 holes to 75 holes that were drilled during 2021 – 2024. Most of these holes have also intersected Eocene intrusive granitoid dykes. A total of 3,390 meters is being re-logged and may be sent in for assay over the next few weeks.An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/7cf10f95-880b-4e26-a67d-2f712511ce43

  An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/b92e0c5f-0558-41d0-b727-b3b327509c53

Eocene Mineralized Dyke Discovery

• Prior to mid-2024, Goliath’s focus was entirely on the exceptional mineralization discovered in the high-grade shear zones at Surebet, including the Surebet Zone, Bonanza Shear, Golden Gate Zone and more. Mineralization in the Eocene age (~52 Ma) intrusive feeder dykes that are exposed along strike on surface for up to 1,500 meters was only discovered in the second half of 2024.
• Historic work by exploration companies and academic researchers, including the British Columbia Geological Survey (BCGS), in the southern part of the Golden Triangle suggested that these Eocene intrusive feeder dykes didn’t contain any gold or other significant mineralization, hence little to no effort was put into investigating these dykes in the area.
• Goliath is the first ever explorer to discover and document gold mineralization within these types of dykes and this has changed the old school narrative. The Company has drilled into high-grade gold with mineable widths in these dykes. This is a significant new breakthrough discovery and a game changer for the Surebet Discovery and others exploring in the Golden Triangle.
• Work completed at the Colorado School of Mines included age dating of the veins and dykes, which are both very close in the time of their emplacement (50-54 Ma); and overlap in age with the Hyder Pluton (~51.9 Ma) located on the west side of the Surebet Discovery. This suggests a significant possibility for a common magmatic intrusion source just below the veins and dykes.
• In 2024, 13 holes were relogged from Eocene intrusive granitoid feeder dykes, 6 had gold visible seen with the naked eye and assayed up to 12.03 g/t AuEq over 10 meters. Additional intervals of gold mineralization confirmed in intrusive dykes previously reported include drill hole GD-24-237 which assayed 10.50 g/t AuEq over 7.00 meters, GD-23-180 which assayed 3.46 g/t AuEq over 7.00 meters, GD-23-226 which assayed 6.03 g/t AuEq over 2 meters.
• Mineralization in the feeder dykes occurs as quartz veins and veinlets up to a few centimeters wide containing visible gold, bismuth, bismuth-tellurides and molybdenite, hosted in porphyritic felsic-intermediate ilmenite series granitoid dykes, which have the expected composition of a causative intrusion in the geologic setting where Surebet was formed. Gold in the mineralized dykes occurs in composite grains with native bismuth and bismuth tellurides.
• Microscopic analysis of the hosted gold mineralization in the Eocene intrusive granitoid feeder dykes demonstrates that the gold occurs as native gold and as composite grains with bismuth-telluride phases. Sulfides are only observed very rarely in the dykes, indicating the high-gold grade indicated by assays is likely due to be the result of higher amounts of free gold in this part of the Surebet system suggesting higher gold recovery potential. 

Surebet Discovery Highlights

• 59 out of 64 holes (or 92%) drilled in 2024 contained gold visible to the naked eye up to 11.5 mm (7/16 inches) in size, all of which assayed for high-grade gold.
• The best hole drilled to date is GD-24-260 previously reported from the Bonanza Zone assayed 34.52 g/t AuEq (34.47 Au and 3.96 Ag) over 39.00 meters, including 132.93 g/t AuEq (132.78 Au and 12.98 Ag) over 10.00 meters, and 166.04 g/t AuEq (165.84 Au and 16.07 Ag) over 8.00 meters.
• Multiple new gold-mineralized shear zones and dykes have been identified every year on the Surebet discovery continuously increasing the potential tonnage of the mineralized Surebet system that remains wide open. A total of 12 vertically stacked gold-mineralized veins (shear zones) extending vertically for 1.2 kilometers as well as 4 gold-mineralized dykes that are up to 25 meters wide and exposed along strike at surface for up to 1,500 meters have been discovered and modelled to date.
• The footprint of the mineralization discovered to date at Surebet is 1.8 km², the equivalent in size to >336 NFL football fields, and remains open in all directions.
• Thanks to the mountainous topography, mineralization in the veins is exposed on surface for 2.1 km of strike (1.0 km on the south slope and 1.1 km on the north slope) with a vertical relief of 700 meters.
• A detailed study recently completed by the Colorado School of Mines confirms a new interpretation of the ore forming process of high-grade gold mineralization at Surebet and outlines a common causative Reduced Intrusion Related Gold source with tremendous untapped discovery potential to increase economical tonnage in the Eocene aged intrusive rocks never documented before.
• Goliath has drilled a total of 92,000 meters to date with over 400 pierce points on the Golddigger property between 2021 and 2024, which culminated in the updated geologic model used for this year’s drill planning.
• The Surebet Discovery has predictable continuity and exceptional metallurgy with gold recoveries of 92.2% from gravity and flotation at a 327-micrometer crush including 48.8% free gold (no cyanide required to recover the gold). The metallurgy completed to date shows a benign rock composition without deleterious elements such as mercury or arsenic.
• Based on positive grassroots exploration and drill results in recent years, Goliath significantly increased its land package from 66,608 hectares to 91,518 hectares (226,146 acres) and now controls 56 kilometers of key terrain of the Red Line geologic trend providing for additional upside discovery potential.
• The Golddigger Property is located on tidewater with barge route to Prince Rupert (190 km south) and close to infrastructure including the town of Kitsault adjacent to a permitted mine site on private property.

The 2025 planned drill campaign consists of systematic drilling designed to outline in detail the full geometry and extent of this discovery laterally and to depth. The Company has designed a detailed drill plan to test for the Motherlode Causative Intrusive Gold Source, test additional Eocene intrusive granitoid dykes, infill drilling with the goal of increasing pierce points density in all known stacked veins and expand the known mineralized veins laterally and to depth where they currently remain open.

Dr. Quinton Hennigh, Geologic & Technical Advisor to Crescat Capital, a strategic investor in Goliath, states: “The Surebet gold system continues to reveal its remarkable character, one that now points to a direct genetic link to a gold-rich intrusive source. While the numerous stacked low-angle gold lodes remain a principal focus of exploration for Goliath, the more recent revelation that significant gold mineralization is hosted by subtle quartz stockwork veins hosted within a series of near vertical dikes is quickly taking shape. Recently, the Company has been diligently relogging and assaying previously unanalyzed intervals of core from holes drilled within the past few years with a focus on zones of quartz veining occurring within such dykes. Hole GD-22-64, which now reports 6.31 g/t AuEq over 14.35 meters including 11.36 g/t AuEq over 7.85 meters, is a prime example of how important this style of mineralization is becoming at the Surebet Discovery. Many more such dike-hosted mineralized zones are being recognized in relogging of older drill holes as well as newly drilled holes completed this season. Goliath is a great story that keeps getting better with each exploration season.”

Mr. Roger Rosmus, Founder & CEO of Goliath states: “These latest results from Surebet are incredibly exciting and further validates our geological model for a robust, district-scale mineralizing system. The discovery of new high-grade intercepts within the feeder dykes, coupled with the widespread visible gold in our re-logging program and the identification of new mineralized host rocks like the calc-silicate breccia, confirms the excellent additional discovery potential of gold mineralization. We are particularly encouraged by the consistent presence of visible gold across multiple campaigns and its direct correlation with high-grade assays. Our aggressive 2025 drill campaign is designed to unlock the full potential of this exceptional project, aiming to identify the Motherlode gold source and continue expanding the known mineralization both laterally and at depth.”

Table 1: Assay highlights for hole reported in this news release

Expanding on the promising results from GD-22-64, the Company’s ongoing relogging program of historical drill core from 2021 to 2024 has unveiled multiple additional instances of visible gold seen with the naked eye across 7 previously unsampled holes, with more potential discoveries anticipated as the program continues. Notably, hole GD-24-280 revealed 7 separate occurrences of visible gold over 11.86 meters within a newly identified, strongly calc-silicate altered breccia, an interval of 55.37 meters has now been sampled, indicating significant potential for wide, high-grade gold mineralization. Similarly, GD-24-277 confirmed visible gold within the same novel host rock, with a 36-meter interval now awaiting assay results. Further re-logging has identified gold visible to the naked eye in other key zones, including multiple occurrences in GD-22-102 within the Bonanza Zone and Golden Gate Zones, often associated with pyrrhotite and sphalerite in calc-silicate veins. Additional single occurrences of visible gold have been identified and sampled in GD-24-254 (Bonanza and Golden Gate Zones) and GD-24-267 (Bonanza Zone). GD-21-09 and GD-24-244 also yielded visible gold within intrusive dykes, strikingly similar to an interval in GD-22-58 which previously assayed up to 12.03 g/t AuEq over 10 meters, further supporting the potential for extensive high-grade gold mineralization linked to the causative intrusion (Motherlode Source). All newly sampled intervals are currently pending assay results, which are expected to further define the significant potential of these discoveries.

Based on the compelling discovery of the new calc-silicate altered breccia in drill holes GD-24-277 and GD-24-280, the Company expanded its re-logging program from 50 to 75 holes drilled during the 2021-2024 campaigns. Most of these additional holes have also intersected prospective Eocene intrusive granitoid RIRG feeder dykes. A total of 3,390 meters of core is currently being re-logged, with significant sections anticipated to be sent for assay over the next few weeks.

The 2024 drill campaign showcased remarkable consistency, with 59 out of 64 holes (or 92%) containing visible gold seen with the naked eye with some grains reaching sizes of up to 11.5 mm (7/16 inches). Importantly, all of these visible gold occurrences consistently correlated with high-grade gold assays. Further analysis of Eocene intrusive granitoid feeder dykes within the 2024 re-logging effort revealed visible gold in 6 out of 13 re-logged holes, with assays up to 12.03 g/t AuEq over 10 meters. This builds upon previously reported high-grade intercepts from intrusive dykes, including drill hole GD-24-237 which assayed 10.50 g/t AuEq over 7.00 meters, GD-23-180 with 3.46 g/t AuEq over 7.00 meters, and GD-23-226 with 6.03 g/t AuEq over 2 meters. Mineralization in these intrusive dykes occurs as quartz veins and veinlets, typically a few centimeters wide, containing visible gold, bismuth, bismuth-tellurides, and molybdenite. These are hosted within porphyritic felsic-intermediate ilmenite series granitoid dykes, whose composition is consistent with a causative intrusion in the geological setting where Surebet was formed. Gold in the mineralized dykes is often found included in composite grains with native bismuth and bismuth tellurides, a style of gold mineralization mirroring that observed in the high-grade, shear-hosted quartz veins at Surebet.

The 2025 planned drill program will include 40,000 meters of systematic drilling designed to outline in detail the full geometry and extent of the Surebet discovery laterally and to depth. Goliath is armed with much more drilling and geological data with 92,000 meters drilled to date (2021 – 2024) that encompasses over 400 pierce points which has greatly improved our understanding of the exceptional Surebet discovery mineralized system that remains open for expansion in all directions. 100% of the drilling this year will be focused on the Surebet discovery, where the Company has designed a detailed drill plan that will consist of testing for the Motherlode causative intrusion gold source, testing an additional 13 potential feeder dykes observed on surface that have never been drill tested for mineralization, infill drilling with the goal of increasing the pierce points density in all known veins with a particular focus on the highest-grade areas from the Bonanza Zone and Surebet Zone intersection domain, as well as expanding the known mineralized veins laterally and to depth where they currently remain open.

Table 2: Critical element assay highlights for hole reported in this news release.

About Golddigger Property

The Golddigger Property is 100% controlled and covers an area of 91,518 hectares in the world class geological setting of the Eskay Rift, within 3 kilometers of the Red Line in the Golden Triangle of British Columbia. This area has hosted some of Canada’s greatest mines including Eskay Creek, Premier and Snip. Other significant and well-known deposits in the Golden Triangle include Brucejack, Copper Canyon, Galore Creek, Granduc, KSM, Red Chris, and Schaft Creek. Goliath controls 56 kilometers of the Red Line which is a geologic contact between Triassic age Stuhini rocks and Jurassic age Hazelton rocks used as key markers when exploring for gold-copper-silver mineralization.

The Surebet discovery has predictable continuity and exceptional excellent metallurgy with gold recoveries from gravity and flotation at a 327-micrometer crush of 92.2% including 48.8% free gold from gravity alone (no cyanide required to recover the gold). The metallurgy completed to date shows no deleterious elements are present such as mercury or arsenic.

The Property is in an excellent location in close proximity to the communities of Alice Arm and Kitsault where there is a permitted mill site on private property. It is situated on tide water with direct barge access to Prince Rupert (190 kilometers via the Observatory inlet/Portland inlet). The town of Kitsault is accessible by road (190 kilometers from Terrace, 300 kilometers from Prince Rupert) and has a barge landing, dock, and infrastructure capable of housing at least 300 people, including high-tension power.

Additional infrastructure in the area includes the Dolly Varden Silver Mine Road (only 7 kilometers to the East of the Surebet discovery) with direct road access to Alice Arm barge landing (18 kilometers to the south of the Surebet discovery) and high-tension power (25 kilometers to the east of Surebet discovery). The city of Terrace (population 16,000) provides access to railway, major highways, and airport with supplies (food, fuel, lumber, etc.), while the town of Prince Rupert (population 12,000) is located on the west coast and houses an international container seaport also with direct access to railway and an airport.

About CASERM (Center to Advance the Science of Exploration to Reclamation in Mining) 

Goliath Resources is a paying member and active supporter of the Center to Advance the Science of Exploration to Reclamation in Mining (CASERM), which is one of the world’s largest research centers in the mining sector. CASERM is a collaborative research venture between Colorado School of Mines and Virginia Tech that is supported by a consortium of mining and exploration companies, analytical instrumentation and software companies, and federal agencies aiming to transform the way geoscience data is acquired and used across the mining value chain. The center forms part of the I-UCRC program of the National Science Foundation. Research focuses on the integration of diverse geoscience data to improve decision making across the mine life cycle, beginning with the exploration for subsurface resources continuing through mine operation as well as closure and environmental remediation. Over the past three years, Goliath Resources’ membership in CASERM has allowed world-class research to be performed on the Surebet project part of the Golddigger Property in British Columbia, Canada.

Qualified Person

Rein Turna P. Geo is the qualified person as defined by National Instrument 43-101, for Goliath Resource Limited projects, and supervised the preparation of, and has reviewed and approved, the technical information in this release.

About Goliath Resources Limited

Goliath Resources is an explorer of precious metals projects in the prolific Golden Triangle of northwestern British Columbia. All of its projects are in high quality geological settings and geopolitical safe jurisdictions amenable to mining in Canada. Goliath is a member and active supporter of CASERM which is an organization that represents a collaborative venture between Colorado School of Mines and Virginia Tech. Goliath’s key strategic cornerstone shareholders include Crescat Capital, McEwen Mining Inc. (NYSE: MUX) (TSX: MUX), Waratah Capital, Mr. Rob McEwen, a Global Commodity Group based in Singapore, Mr. Eric Sprott and Mr. Larry Childress.

For more information please contact: 
Goliath Resources Limited
Mr. Roger Rosmus 
Founder and CEO
Tel: +1.416.488.2887
roger@goliathresources.com
www.goliathresourcesltd.com